Insider Selling: Civeo (NYSE:CVEO) Major Shareholder Sells 9,169 Shares of Stock

Civeo Corporation (NYSE:CVEO) major shareholder Engine Capital Management, Lp sold 9,169 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $29.03, for a total transaction of $266,176.07. Following the completion of the transaction, the insider directly owned 65,461 shares in the company, valued at $1,900,332.83. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Engine Capital Management, Lp also recently made the following trade(s):

• On Friday, February 13th, Engine Capital Management, Lp sold 417,015 shares of Civeo stock. The stock was sold at an average price of $28.80, for a total value of $12,010,032.00.

Civeo Price Performance

Shares of Civeo stock traded up $0.32 during mid-day trading on Wednesday, reaching $29.06. 113,541 shares of the stock traded hands, compared to its average volume of 64,868. The stock has a market capitalization of $334.71 million, a PE ratio of -13.77 and a beta of 0.63. The business has a 50-day moving average of $24.91 and a 200 day moving average of $23.32. Civeo Corporation has a fifty-two week low of $18.01 and a fifty-two week high of $29.33. The company has a quick ratio of 1.57, a current ratio of 1.64 and a debt-to-equity ratio of 1.03.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CVEO. Clearstead Advisors LLC grew its holdings in shares of Civeo by 191.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,538 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 1,011 shares during the period. State of Wyoming acquired a new position in Civeo in the 2nd quarter valued at about $66,000. Quent Capital LLC purchased a new stake in shares of Civeo in the 3rd quarter valued at approximately $79,000. Goldman Sachs Group Inc. acquired a new stake in shares of Civeo during the 1st quarter worth approximately $204,000. Finally, XTX Topco Ltd acquired a new stake in shares of Civeo during the 2nd quarter worth approximately $255,000. Institutional investors and hedge funds own 81.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Civeo in a research note on Monday, December 29th. Zacks Research upgraded shares of Civeo from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Wall Street Zen raised shares of Civeo from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Stifel Nicolaus set a $33.00 price objective on shares of Civeo and gave the company a “buy” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Civeo has an average rating of “Hold” and an average price target of $33.00.

About Civeo

Civeo Corporation is a leading provider of workforce accommodations and integrated facility management services, primarily serving the oil and gas, mining, and construction sectors. The company specializes in the development, ownership, and operation of remote lodging facilities, commonly known as “man camps,” designed to house workers in geographically challenging environments. Its services include turnkey accommodations, catering, housekeeping, grounds maintenance, and logistical support, tailored to meet the needs of large-scale energy and resource projects.

With a network of lodges and villages across North America and Australia, Civeo caters to clients operating in regions such as Alberta’s oil sands, the Bakken shale play, and Australia’s Pilbara and Bowen Basin mining districts.